BMO Capital Markets Issues Pessimistic Forecast for Air Canada (TSE:AC) Stock Price

Air Canada (TSE:AC) had its target price cut by stock analysts at BMO Capital Markets from C$31.00 to C$29.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. The firm currently has an “outperform” rating on the stock. BMO Capital Markets’ price objective indicates a potential upside of 114.02% from the company’s previous close.

Several other research analysts have also recently weighed in on the stock. Stifel Nicolaus lowered their price target on shares of Air Canada from C$28.00 to C$26.00 in a report on Tuesday, February 18th. Citigroup decreased their price objective on Air Canada from C$28.50 to C$26.50 and set a “buy” rating on the stock in a report on Monday, December 30th. Scotiabank lifted their target price on Air Canada from C$26.50 to C$29.00 and gave the stock an “outperform” rating in a report on Wednesday, December 18th. CIBC reduced their target price on shares of Air Canada from C$28.00 to C$24.00 in a research report on Tuesday, February 18th. Finally, Cormark boosted their price objective on shares of Air Canada from C$26.75 to C$29.50 in a report on Wednesday, December 18th. One analyst has rated the stock with a sell rating, two have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Air Canada has a consensus rating of “Moderate Buy” and a consensus target price of C$24.67.

Air Canada Price Performance

TSE:AC opened at C$13.55 on Thursday. The company has a market cap of C$4.83 billion, a P/E ratio of 1.91, a P/E/G ratio of 0.02 and a beta of 2.39. The firm’s fifty day moving average price is C$16.65 and its two-hundred day moving average price is C$19.38. Air Canada has a one year low of C$13.11 and a one year high of C$26.18. The company has a debt-to-equity ratio of 400.00, a current ratio of 0.92 and a quick ratio of 1.06.

Insider Buying and Selling at Air Canada

In other news, Director Vagn Sorensen bought 11,440 shares of the stock in a transaction on Wednesday, February 19th. The stock was acquired at an average price of C$17.40 per share, with a total value of C$199,057.14. Also, Senior Officer Craig Landry bought 7,909 shares of the company’s stock in a transaction on Monday, March 31st. The stock was purchased at an average price of C$13.99 per share, with a total value of C$110,646.91. Insiders have acquired a total of 32,993 shares of company stock worth $538,251 over the last 90 days. Insiders own 0.14% of the company’s stock.

Air Canada Company Profile

Air Canada provides domestic, U.S. transborder, and international airline services. The company provides scheduled passenger services under the Air Canada Vacations and Air Canada Rouge brand names in the Canadian market, the Canada-U.S. transborder market, and in the international market to and from Canada, as well as through capacity purchase agreements on other regional carriers.